Last June, two U.S. Senators introduced a pot bill called the STATES Act.

The legislation would amend the Controlled Substances Act – and make it impossible for the federal government to interfere in states where cannabis is legal.

Right now, marijuana is considered a Schedule 1 controlled substance. That’s the same classification as cocaine and heroin.

As a result, many cannabis companies have trouble opening up bank accounts or paying taxes to the U.S. government.

The STATES Act would resolve this – and assure that the Feds let states legalize cannabis.

In an unusual matchup, Republican Senator Cory Gardner (Colorado) and Democrat Senator Elizabeth Warren (Massachusetts) penned the legislation.
Last year, Colorado statewide cannabis sales are estimated to have reached $1.2 billion. And Gardner is keen to secure the future for Colorado companies in the sector.